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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities and Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 16, 2023
WORLD
HEALTH ENERGY HOLDINGS, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
000-30256 |
|
59-2762023 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
1825
NW Corporate Blvd. Suite 110
Boca
Raton, FL 33431
(Address
of principal executive offices, including zip code)
(561)
870-0440
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
☐ |
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
☐ |
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
☐ |
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
None |
|
N/A |
|
N/A |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section
1 - Registrant’s Business and Operations
Item
1.01. Entry into a Material Definitive Agreement.
On
October 16, 2023, UCG, Inc. (“UCG”), the
holder of approximately 75%
of the issued and outstanding shares of World Health Energy Holdings, Inc. (OTC:WHEN) (the “Company”),
executed and delivered a binding term sheet (the
“Term Sheet”) with Cuentas Inc. (“Cuentas”), a company currently listed on The Nasdaq Stock Market LLC. Pursuant
to the terms of the Term Sheet, UCG will transfer all its shares in the Company to Cuentas in exchange for the issuance to UCG of that
number of shares of Cuentas which will represent 50% of the issued and outstanding shares of Cuentas on a fully diluted basis. It is
contemplated that within the following 45 days, the parties will complete their due diligence processes and execute definitive agreements
incorporating the terms of the Term Sheet. The share exchange is contingent on obtaining the approval of Nasdaq and the shareholders
of Cuentas to the contemplated transaction, the filing with the Securities and Exchange Commission of a registration statement on Form
S-4, an independent third-party appraisal of the value of the Company shares, the grant by the Nasdaq Stock Market of an extension at
least through April 1, 2024 for Cuentas to comply with Nasdaq’s minimum stockholder equity requirements and other customary closing
conditions. The parties agreed to use their best efforts to consummate the transaction as soon as practicable, but not later than December
15, 2023, unless extended in writing. Either party has the right terminate to terminate the Term Sheet if the closing does not occur
on or before said date or the parties are unable to enter into a definitive stock purchase agreement before expiration of the 45-day
diligence period.
Following
the execution of the Term Sheet, the Company shall proceed to obtain the necessary regulatory approval of a reverse stock split of its
outstanding common stock solely in connection with an uplisting to a U.S. National Exchange.
Upon
the consummation of the share exchange contemplated by the Term Sheet, the board of directors of Cuentas shall be increased to nine members.
UCG and the Cuentas Shareholders will each designate two members, with the remaining five independent directors to be nominated by mutual
agreement of UCG and the Cuentas Shareholders.
The
Term Sheet further provides that each of Giora Rozensweig, the interim CEO of the Company, George Baumeohl, a director of the Company
and a principal of UCG, Arik Maimon, CEO and President of Cuentas and Michael De Prado, the President of Cuentas, will enter into stockholders’
agreement, the terms of which are currently being negotiated, reflecting the parties’ agreement to certain matters relating to
the management of Cuentas. This agreement is currently being negotiated and will be included in the definitive agreement for shareholder
approval.
The
Term Sheet also contemplates that at the closing of the share exchange, Cuentas may enter into employment agreements with Giora Rozensweig,
the interim CEO of the Company, who shall be designated as co-Executive Chairman of the Cuentas Board. The agreement will be on the same
terms and conditions as the current Cuentas Chairman and CEO, and/or co-CEO of Cuentas and an additional Company designated person shall
serve in a senior capacity as an officer of Cuentas.
The
foregoing description of the Term Sheet is not complete and is subject to and qualified in its entirety by reference to the Term Sheet,
a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and the terms of which are incorporated by reference herein.
Section
5 - Corporate Governance and Management
Item
5.01 Changes in Control of Registrant
The
information set forth in Item 1.01 above is incorporated by reference into this Item 5.01.
Section
7 - Regulation FD
Item
7.01 Regulation FD Disclosure
On
October 19, 2023, the Company issued a press release (the “Press Release”) announcing the execution of the Term Sheet. The
Press Release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The
information in this Item 7.01, including Exhibit 99.1 is furnished and shall not be deemed “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under that
section, and shall not be deemed to be incorporated by reference into the filings of Cuentas under the Securities Act of 1933, as amended,
(the “Securities Act”) or the Exchange Act, regardless of any general incorporation language in such filings. This Current
Report on Form 8-K will not be deemed an admission as to the materiality of any information contained in this Item 7.01, including Exhibit
99.1.
Section
9 - Financial Statements and Exhibits
Item
9.01. Financial Statements and Exhibits.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
WORLD
HEALTH ENERGY HOLDINGS, INC. |
|
|
|
Date:
October 20, 2023 |
By: |
/s/
Giora Rozensweig |
|
|
Giora
Rozensweig |
|
|
Chief
Executive Officer |
Exhibit
10.1
TERM
SHEET
October
16, 2023
After
significant discussions and negotiations between UCG, Inc., a Delaware corporation (“UCG”), the owner and holder
of approximately 387,000,000 shares of common stock, par value $0.00001 per share, of World Health Energy Holdings, Inc. (“WHEN”),
which represents approximately seventy-five percent (75%) of the outstanding shares of WHEN common stock (the “WHEN Shares”),
and Cuentas, Inc., a Florida corporation whose common stock is listed on The Nasdaq Capital Market under the ticker symbol CUEN (“Cuentas”,
collectively with UCG, the “Parties”), UCG and Cuentas agree to the following terms and conditions regarding the sale
and transfer by UCG to Cuentas of the WHEN Shares and in consideration thereof, Cuentas shall issue to UCG the Cuentas Consideration
Shares, as defined below.
Share
Exchange: |
UCG
shall transfer to Cuentas the WHEN Shares, free and clear of liens, claims, and encumbrances, and simultaneously in consideration
thereof, Cuentas shall issue to UCG shares of Cuentas common stock in a number equal to fifty percent (50%) of the total issued and
outstanding shares of common stock of Cuentas, calculated on a post-issuance and fully diluted basis, with shares to be issued free
and clear of liens, claims, and encumbrances (the “Cuentas Consideration Shares”). |
|
|
Closing
Date: |
The
Parties shall simultaneously exchange the WHEN Shares and the Cuentas Consideration Shares at closing (the “Closing”),
which shall be subject to the usual and customary conditions and requirements, and the Parties shall use their best good faith efforts
to close as soon as practicable but not later than December 15, 2023, unless extended in writing signed by the Parties. |
Conditions
Precedent
To
Closing: |
The
following are conditions precedent to Closing: |
|
i. |
The
Parties’ execution of a Definitive Stock Issuance and Purchase Agreement and a stockholders agreement (collectively, the “Definitive
Agreements”) incorporating the material terms of this Term Sheet and such other terms, conditions, and warranties and representations
customary in stock purchase agreements, said agreement to be completed on or before expiration of the 45-day Diligence Period; |
|
|
|
|
ii. |
Procurement
by Cuentas of all required corporate approvals, including shareholder approval; |
|
iii. |
Approval by the Nasdaq Stock Market LLC (“Nasdaq”) of the following:
|
|
|
|
(A) |
this Term Sheet, including approval of the Definitive Agreements, |
|
|
|
(B) |
as defined below; (B) the issuance and sale the Cuentas Consideration |
|
|
|
(C) |
Shares, (C) the contemplated transaction and (D) any and all disclosures required under applicable law or by Nasdaq; |
|
iv. |
Filing
with the SEC of a registration statement on Form S-4 and any and all other necessary forms or disclosures as may be required by Nasdaq
regarding the resale of the Cuentas Consideration Shares; |
|
|
|
|
v. |
Cuentas
has obtained an independent third-party appraisal of the value of the WHEN shares. |
|
|
|
|
vi. |
The
grant by the Nasdaq Stock Market of an extension at least through April1, 2024 for Cuentas to comply with Nasdaq’s minimum
stockholder equity requirements; |
|
vii. |
Each
party’s satisfactory completion of due diligence pursuant to the due diligence section below; and |
|
|
|
|
viii. |
there
being no material adverse change in the business, results of operations, prospects, condition (financial or otherwise), or
assets of either party after execution of this Term Sheet. |
Funding : |
Upon
Closing, WHEN will be a majority owned subsidiary of Cuentas indirectly held through UCG’s holdings in WHEN, and the
Board of Directors of and executive management of WHEN (the “WHEN Board and Executives”), shall develop
a detailed and granular business plan and operating budget, including sources and uses of cash, to fund and grow WHEN’s operations
and revenues, including the integration where practicable of the WHEN and Cuentas product |
|
|
Reverse
Split: |
Following
the execution of this Term Sheet, WHEN shall proceed to obtain the necessary regulatory approval of a reverse stock split of its
outstanding common stock. |
|
|
Exclusivity: |
Each
of Cuentas and WHEN, on its own behalf and on behalf of its affiliates, directors, officers, partners, employees, advisors, agents
and representatives, agrees that until termination of this Term Sheet, it will not, directly or indirectly, (a) make, solicit or
encourage any offer, or otherwise provide any assistance in any way in aid of any offer or proposal, (b) engage in any negotiations
or discussions with any person or (c) provide any information to, or otherwise cooperate in any way with, any person, for the sale,
lease or transfer (or similar transaction) of all or a material part of its business or assets or that of any subsidiary, or any
equity interests therein or in any subsidiary, to any person or entity other than the other party hereto, except notwithstanding
anything to the contrary in this provision or this Agreement, Cuentas shall retain its sole discretion to regarding the Brooksville
real estate project, including without limitation, whether to sell, hold, or refinance said project. |
|
|
Side
Letter: |
Each
of Giora Rozensweig, the interim CEO of WHEN, George Baumeohl, a director of WHEN and a principal of UCG, Arik Maimon, CEO and President
of Cuentas and Michael De Prado, the President of Cuentas shall enter into Stockholders Agreement which is currently being negotiated
pursuant to which the parties thereto will agree to certain matters relating to the management of Cuentas (subject to further modifications
to such form of agreement). |
|
|
Cuentas
Board: |
At
the Closing, subject to the terms and conditions of the Definitive Agreements, the board of directors of Cuentas (the “Cuentas
Board”) shall be increased to nine members, four of the insider directors which shall be designated by each of UCG
and the Cuentas Shareholders as those terms are defined in the Definitive Agreements, with each of UCG and the Cuentas Shareholders
designating two members, with the remaining five independent directors on the Cuentas Board to be nominated by mutual agreement of
UCG and the Cuentas Shareholders. |
|
|
Management |
|
|
|
Positions: |
At
the Closing, subject to the terms and conditions of the Definitive Agreements, the Cuentas Board may enter into employment agreements
with current WHEN officers and directors for employment in senior management positions in Cuentas, for example, it is currently contemplated
that Giora Rozensweig, the interim CEO of WHEN, shall be designated as co-Executive Chairman of the Cuentas Board, on the same terms
and conditions as the current Cuentas Chairman and CEO, and/or co-CEO of Cuentas and an additional WHEN designated person shall serve
in a senior capacity as an officer of Cuentas. |
|
|
Termination: |
Either
UCG or Cuentas shall have the right terminate this Term Sheet if the Closing does not occur on or before the Closing Date or the
Parties are unable to enter into a definitive Stock Purchase and Issuance Agreement before expiration of the 45-day Diligence Period. |
Binding
Term
Sheet: |
The
parties contemplate that the terms in this Term Sheet shall be binding and enforceable on the parties hereto, subject to the due
diligence and satisfaction of the above conditions precedent, and the parties shall use their best good faith efforts to negotiate
and execute definitive transactional documents consistent with the terms and conditions in this Term Sheet. |
|
|
Due
Diligence: |
For
a 60-day period following execution of this Term Sheet (the “45-day Diligence Period”), the parties shall mutually
share any and all relevant financial and operational information as requested by the respective party and use their best good faith
efforts to satisfy one another’s reasonable information requests. If a party elects not to go forward with the contemplated
transaction as a result of its due diligence, said party must provide written notice setting forth in as much detail as practicable
the specific issue of concern, and the parties shall negotiate in good faith whether said issue is capable of resolution through
specific action that the other party may elect to take. If the parties are unable to resolve the issue, either party may elect to
terminate this term sheet and further efforts to consummate the contemplated transaction. |
|
|
Confidentiality: |
Because
parties intend to share confidential and sensitive financial and operational information as part of due diligence the parties will
execute customary confidential agreements inclusive of the directors, officers, and employees. |
|
|
Governing
Law: |
This
Term Sheet shall be governed by the laws of the State of Florida without regard to the conflict of laws thereof are and venue of
any dispute shall be in the United States District Court for the Southern District of Florida or the Circuit Court in and for Miami-Dade
County. |
|
|
Counterparts
and |
|
|
|
Copies. |
This
Agreement may be executed by the Parties in counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Facsimile signatures and signature pages sent by email shall be binding as though they are
originals. |
|
|
Waiver
of Jury
Trial |
EACH
PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF ACTION OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, INCLUDING
ANY EXHIBITS AND SCHEDULES ATTACHED TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED HEREBY. |
If
the foregoing is acceptable and sets forth our mutual understandings concerning these matters, please indicate your approval by signing,
dating, and returning a copy of this letter of intent to the undersigned on or before 5:00 p.m., Eastern Time, on October 17, 2023.
UCG,
INC. |
|
CUENTAS
INC. |
|
|
|
|
|
By: |
/s/
Giora Rosensweig |
|
By: |
/s/
Arik Maimon |
Name: |
GIORA
ROSENSWEIG |
|
Name: |
ARIK
MAIMON |
Title |
CEO |
|
Title: |
CEO |
Exhibit
99.1
Proposed
Acquisition by Cuentas, Inc. of Majority Stake in World Health Energy Holdings, Inc. Offers Opportunity for Expansion of WHEN Group’s
Cybersecurity, AI and Telecom Technology Footprint
Acquisition
Enables Integration of Synergistic Technologies and expansion of WHEN Group’s Product Offerings
BOCA
RATON, FL, Oct. 19, 2023 (GLOBE NEWSWIRE) – World Health Energy Holdings, Inc. (OTC Pink: WHEN) (“WHEN Group”),
a telecom and cybersecurity company with proprietary technologies developed to protect individuals and enterprises from cybersecurity
threats, announced today that the majority shareholder of WHEN Group executed a binding letter of intent with Cuentas, Inc. (Nasdaq:
CUEN & CUENW) (“Cuentas”), a developer of an alternative financial ecosystem to underbanked communities. The proposed
share exchange transaction, pending Nasdaq and shareholder approval and other specified conditions, will result in WHEN Group becoming
a majority owned subsidiary of Cuentas.
WHEN
Group was founded by Israeli engineers and international professionals with deep backgrounds in cybersecurity and data threat remediation
in both government and private sectors. From business and personal privacy to fin-tech security, WHEN Group has been developing solutions
that utilize advanced pattern recognition and AI to create a security screening environment that can detect and defend against a range
of threats and attacks on telecom, banking, and other communication infrastructure.
Following
approval and closing of the transactions, Cuentas intends to integrate WHEN Group’s portfolio of cybersecurity solutions into the
Cuentas Mobile Platform and will offer WHEN Group’s advanced solutions to Cuentas’ FinTech partners.
WHEN
Group has recently moved into telecommunications platforms with its acquisition of CrossMobile, a licensed telecom (full core mobile
virtual network operator) in Poland, joining a small group of licensed telecom operators in the EU. As Cuentas is in the mobile financial
services area (amongst others), WHEN Group believes that there are significant synergies between the companies that can be realized.
Cuentas
and WHEN Group have been collaborating to identify immediate opportunities to provide WHEN Group solutions not only to the CUENTAS mobile
platform, but also to businesses and industries that Cuentas serves in the US and around the world. The companies plan on deploying WHEN
Group’s proprietary software to protect families concerned with external cyber threats at home, enabling the monitoring of a child
and his environmental behavioral patterns that will alert parents to potential tragedies caused by cyberbullying, pedophiles, other predators,
and depression / state of mind.
In
consideration for the principal shareholder of WHEN Group, UCG, Inc. (“UCG”), exchanging its 75% stake, Cuentas will issue
to UCG such number of common shares of CUEN which will represent on the date of issuance 50% of Cuentas’ issued and outstanding
capital (on a fully diluted basis).
Following
the closing, WHEN Group will be a majority owned subsidiary of Cuentas indirectly held through UCG’s holdings in WHEN Group, and
the Board of Directors of and executive management of WHEN Group intend develop a detailed and granular business plan and operating budget,
including sources and uses of cash, to fund and grow WHEN Group’s operations and revenues, including the integration where practicable
of the WHEN Group and Cuentas product.
Major
Gen. (Ret.) Danny Yatom, President of WHEN Group and Former Director of Israeli Mossad, said, “We have been focused on developing
a state-of-the-art technology platform that defends critical communications and financial infrastructure against attack and compromise.
The proposed transaction puts WHEN Group on the world stage and will enable us to bring our innovations more rapidly to market.”
WHEN
Group’s easy-to-use AI and machine learning driven platform is a holistic solution that integrates with any system and is fully
customizable based on customer needs. Management believes the Company’s solutions address a broad segment of the fast-growing,
multi-billion-dollar cybersecurity market.
Giora
Rosensweig, CEO of WHEN Group, added, “This transaction will help solidify our foundation and advance our position as a major player
in the new age of cybersecurity and AI, enabling us to address the previously unsolvable security problems in fintech. Together with
Cuentas, we see the opportunity to expand more rapidly across multiple markets and industries as we bring our innovative solutions to
major customers in the US and around the world. Ultimately, we believe this deal will provide a clear path for WHEN Group to uplist to
a senior US exchange.”
Subject
to the terms of the letter of intent, WHEN Group management, including Major Gen. (Ret) Danny Yatom, Giora Rosenzweig, and George Baumoehl,
a WHEN Group director and part owner of UCG, will be joining the Cuentas Board of Directors and/or Executive Management. While the companies
will initially continue to operate independently, management from both teams believe the synergies between the companies hold the potential
to develop significant business relationships.
“I
have known some of the players on the WHEN Group team for many years and have always believed that their solutions could become a standard
in communications security for businesses and families”, said Cuentas Co-Founder and CEO Arik Maimon. “The world needs what
WHEN Group is developing now more than ever, and we are prepared to assist in delivering their solutions to our expanding customer base.”
Both
Cuentas and WHEN Group have taken a broad portfolio approach to their respective markets. Both management teams are aligned on the notion
of building extended platforms and focusing on new technologies that connect vertical markets.
“Increasingly,
people address the digital world through their mobile devices, and in many countries, the mobile phone is the only way they connect,”
stated Michael De Prado, Co-founder and President of Cuentas. “We have seen what can happen when the digital world gets out of
control, and we want to protect businesses and families who are increasingly at risk.”
According
to Grand View Research, the global cybersecurity market was estimated at $202.72 billion (USD) in 2022 and is projected
to grow at a compound annual growth rate (CAGR) of 12.3% from 2023 to 2030. The growing number of cyber-attacks owing to the proliferation
of e-commerce platforms, the emergence of smart devices, and the deployment of the cloud are some of the key factors propelling
the market growth. Increasing usage of devices equipped with the Internet of Things (IoT) and intelligent technologies is expected to
increase the cases of cyber threats. As such, end-user organizations are anticipated to integrate advanced cyber security solutions to
mitigate the cyber-attacks risk, supporting the market growth.2
2
https://www.grandviewresearch.com/industry-analysis/cyber-security-market
Cuentas’
Board of Directors has approved the transaction, and the companies expect to complete the transaction by year end of 2023. The closing
is contingent on several factors, including without limitation, the approval of Nasdaq and the shareholders of Cuentas.
About
World Health Energy Holdings, Inc.
World
Health Energy Holdings, Inc. (d/b/a WHEN Group) is a holding company comprised of CrossMobile, SG 77, Inc./RNA Ltd, which develops and
significantly improves existing cybersecurity solutions in the B2C and B2B marketplace. WHEN Group develops new systems by applying pattern
recognition technology based on IOT / mobile / servers and computer activity, analyzing human and device behavior, relationships, and
BPM (Business Process Management) to automatically identify and prevent potential danger to individuals and companies. The B2C Cybersecurity
division targets families concerned with external cyber threats and exposures in addition to monitoring a child’s behavioral patterns
that may alert parents to potential tragedies caused by cyberbullying, pedophiles, other predators, and depression. The B2B Cybersecurity
system software development and implementation company is focused on innovative solutions for the constantly evolving cyber challenges
of businesses, non-governmental organizations (NGOs) and governmental entities. By deploying a highly experienced development team, RNA
Ltd. anticipates both internal and external cyber threats, by identifying behavioral patterns that flag potential cyber compromises.
Additional
information is available at: https://www.whengroup.com/.
About
Cuentas
Cuentas,
Inc. (Nasdaq: CUEN & CUENW) is creating an alternative financial ecosystem for the growing global population who do not have access
to traditional financial alternatives. The Company’s proprietary technologies help to integrate FinTech (Financial Technology),
e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked
and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company’s Telecommunications
solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched
its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers,
rewards, and the ability to purchase digital content. In Q1 of 2023Cuentas launched Cuentas Casa, an alternative housing development
initiative that secured a 10-year supply agreement for a patented, sustainable building system that will provide the bridge between its
technology solutions and the affordable housing market. Cuentas has made investments to date in affordable housing projects for over
450 apartments.
Additional
information is available at: https://cuentas.com and https://cuentasmobile.com
Forward-Looking
Statements
This
press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements involve
substantial uncertainties and risks and are based upon our current expectations, estimates, and projections, and reflect our beliefs
and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements
are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or
achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors,
including, but not limited to, the current situation in Israel, our obtain the consents required to consummate the proposed transaction,
our ability to integrate the operations of the acquired entities and manage the combined entity, our ability to raise the capital needed
to realize our business plan and on commercially reasonable terms to realize this opportunity, the success of our business plan, market
reception of our products, our ability to retain needed personnel and our ability to compete against companies with much larger resources
as well as the risks and uncertainties discussed under the heading “RISK FACTORS” in our Annual Report on Form 10-K for the
year ended December 31, 2022 filed on April 17, 2023, and in our other filings with the Securities and Exchange Commission. We undertake
no obligation to revise or update any forward-looking statement for any reason.
Investor
Relations:
Dave
Gentry, CEO
RedChip
Companies Inc.
407-491-4498
WHEN@redchip.com
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